Why do people with millions of dollars still work?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$12 million in assets.
Will inherit additional $7-$10 million that we will likely just funnel right to our kids when it happens.

Two kids to go to college
Owe $500,000 at 2.85 % on home worth about $2.5m
No other debt

My husband owns his own business and now only works about 15-25 hours a week from home. He’s bored if he does nothing.

He wants to take care of his family and leave money to the kids. Our oldest is probably going into social work one day so my husband keeps working so this child he be financially ok.

I read this as we have failure to launch, but enough money for the first generation of failure. So your grandkids from this child are basically screwed. Why not use the money to train your kid to fish for themselves; far better for future generations. To me, it rings like the folks who say they want to give their kids an inheritance but don’t want to spend the money to send them to a good private school. Just strange thinking.

Working in the social work field isn’t failure to launch.

Yes, it is. If it were valued by society it would make more money on the free market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$12 million in assets.
Will inherit additional $7-$10 million that we will likely just funnel right to our kids when it happens.

Two kids to go to college
Owe $500,000 at 2.85 % on home worth about $2.5m
No other debt

My husband owns his own business and now only works about 15-25 hours a week from home. He’s bored if he does nothing.

He wants to take care of his family and leave money to the kids. Our oldest is probably going into social work one day so my husband keeps working so this child he be financially ok.

I read this as we have failure to launch, but enough money for the first generation of failure. So your grandkids from this child are basically screwed. Why not use the money to train your kid to fish for themselves; far better for future generations. To me, it rings like the folks who say they want to give their kids an inheritance but don’t want to spend the money to send them to a good private school. Just strange thinking.

This struck me as a really obnoxious and superficial post. There’s a lot more to the world than just making money and social working is a respectable profession that makes the world a better place. People’s worth shouldn’t be defined solely by how much they earn.

Signed,
Someone who makes close to $1m annually and doesn’t expect my kids to do the same

This struck me as a really obnoxious and superficial post.